Head: Group Retail Credit Risk at Absa Group Limited (Absa)

Job Description

Accountability: Retail Credit Risk Appetite and Oversight

• Oversee the retail credit risk appetite across the group, collaborating closely with the Group Credit Portfolio Management team to allocate Credit Risk Appetite for retail credit to the various group entities.
• Challenge the proposed bottom-up retail credit risk appetite asks from each BU and country ensuring it is logical and aligned with the overall risk strategy
• Ensure that the retail credit risk appetite proposed by the retail business units aligns with the methodologies developed by the Group Credit Portfolio Management team.
• Oversee the establishment of sound portfolio triggers to ensure the bank operates within its credit risk appetite.
• Group ownership and management of the retail Early Warning Indicator process.
• Participate as an independent member in business unit governance forums, where triggers and early warning indicators are proposed and approved.
• Ensure a robust process is followed in setting these triggers and indicators, verifying that the proposed levels are sensible and supported by appropriate back-testing.
• Provide and external perspective and challenge the retail credit strategies for the group and business units. This will include views regarding retail credit strategies given the macro-economic environment as well as an evaluation and assessment of retail credit impairments given the macro-economic environment.
• Provide early warnings to the Group Chief Credit Officer and Group Chief Risk Officer regarding potential risks and issues.

Accountability: Oversight of Credit Origination Strategy and Portfolio Cut-off setting

• Oversee the development, implementation and ongoing refinement of credit origination strategies across the retail portfolios. The incumbent will be a member of the relevant governance committees where proposals for changes to origination criteria, segmentation, risk cut-offs as well as material retail credit risk models are tabled, reviewed and approved. Origination strategies and credit models need to be data-driven, responsive to market dynamics, and compliant with regulatory standards.

Accountability: Retail Credit risk methodologies, standards, governance and oversight

• The incumbent will own the Retail Credit Risk Policies from a group perspective. Work closely with the teams responsible for developing and maintaining credit standards and procedures, ensuring alignment with the Enterprise Risk Management Framework.
• Ensure that world-class methodologies and standards are employed across the group, driving consistency and excellence in retail credit management
• Drive continuous improvement of the Retail Credit Risk Management Framework and standards, ensuring they remain effective and relevant.
• Ensure international best practices with regards to retail credit risk analysis are customised and implemented consistently across the Group.
• Ensure that an appropriate Retail Credit Risk training program is in place to achieve the above outcome.
• Continuously review and monitor the quality and consistency of credit analysis across the group and ensure alignment to international best practice.
• Proactively embed agreed change management initiatives in support of related processes & continuous improvements thereof.
• Drive synergies and harmonise credit risk analysis best practices across asset classes in the Group.
• Approve any dispensation or waiver requests arising from deviations from the Enterprise Risk Management Framework (ERMF) and Credit Risk Management Framework (CRMF).

Accountability: Assurance and compliance

• Collaborate with the assurance team to ensure and test if credit policies and standards are implemented correctly, regulations are complied with, and areas for improvement are identified.
• Ensure that the combined assurance plan for retail credit is appropriate and follows a risk-based approach.
• Oversee the combined retail assurance plan between all stakeholders (business units, internal and external assurance providers) to ensure alignment of assurance activities and optimize the effectiveness of the assurance plan
• Oversee and ensure the implementation of corrective actions where necessary, maintaining effective communication with regulators and stakeholders.

Accountability: Reporting and regulatory communication

• Ensure appropriate reporting to governance committees, including tracking of portfolio triggers and EWIs, overseeing monthly updates to the regulator of the retail portfolio.
• Contribute to defining the metrics, indicators, dashboards, and reports used to present the group’s credit risk profile.
• Highlight potential strategic and emerging risks for evaluation

Accountability: General

• The individual will interface with the Board and regulatory bodies, necessitating experience and gravitas to influence strategic decisions at both the business unit and Group levels.
• Build and maintain effective and strategic relationships and networks.
• Be a thought leader in technical credit analysis and methodologies.
• Committee attendance.

The incumbent will attend the following committees to fulfil an independent oversight role:

• Retail Banking credit and governance committees
• Group Credit Risk Management Committees
• Portfolio Quality Review process to ensure that the process operates effectively and that there is appropriate portfolio reporting at each business unit.
• In addition, the incumbent will attend the following committees:
• Absa Group Credit Risk Management Committee (Board Committee)

Role/person specification

Preferred Education

• Bachelor’s or Master’s degree in Actuarial Science, Statistics, Mathematics, or related quantitative discipline

Preferred Experience

• Minimum 10 years retail banking experience, coupled with significant experience in a leadership role.

Knowledge and Skills

• Intuitive understanding of credit risk taking
• Decision making
• Comprehensive knowledge of banking legislation, risk regulations and industry standards
• Experience based knowledge of credit risk management principles, policies and practices
• Appropriate leadership, management and people skills
• Conflict management
• Analytical skills

Education

• Postgraduate Degrees and Professional Qualifications: Business, Commerce and Management Studies (Required)

End Date: June 13, 2025 (7 days left to apply)